Forge Development Partners is pleased to present TL 361, a two-building, 240-micro unit apartment home community strategically located and designed to address the workforce housing gap in a central San Francisco location. This Project, which will also features 3,000 SF of retail, represents an exceptional opportunity to live in an area with direct access to blue chip employers in the Government Center, Financial District, and South of Market (SOMA), rapid transit access via Bay Area Rapid Transit (BART) and all the various amenities of life in San Francisco. The development is unique in that it’s privately imposing income restrictions on 51% of the units to workforce income levels. Furthermore, 12% of the units have qualifying incomes at ~$32k/yr as controlled by MOH and the inclusionary housing ordinance, plus, an additional 39% of units will have a qualifying income of ~$75k/yr with a maximum qualifying income of ~$80k/yr. The remaining 49% of the units will be offered at market rate starting at approximately a $82k/yr qualifying income. These metrics will be annually means-tested for compliance and self regulated as required by the Freddie Mac funds. The project will be built to exceed LEED Gold Standards.
Source: Forge Development Partners